(Finance) – Unicredit holds a participation of about 4.1% in the share capital of Generalacquired over time on the market. The bank makes it known with a press release in which he explains that “the share It is a pure financial investment of the bank that significantly exceeds its performance metrics and has a negligible impact on CET1. An additional share of about 0.6% is held as below the ordinary activity for customers and related covers “.
Unicredit, we read in the note, “It does not have a strategic interest in Generali and remains fully focused on the execution of the UniCredit Unlocked plan, on the current exchange offer on Banco BPM and on the investment in Commerzbank“.
So there are three fronts (Banco Bpm, Commerzbank and now also general) on which Andrea Orcel is currently engaged who, between investments or aggregations, aims for a strong European bank.
The credit institution of Piazza Gae Aulenti has raked the actions and derivatives of the lion up to 4.1% of General. He then has another 0.6% that he manages on behalf of his customers. An investment that is not insignificant, even if the operation is called “financial only”, but which in the light of the current context of banking-insurerer Risiko has its own value.
Now, in fact, we look at theAssembly of 8 Maycalled to renew Generali’s board. Two groups will compete for the majority: on the one hand Mediobanca which has 13.10%of the capital and on the other the Delfin groups (9.93%) and Caltagirone (6.92%) that act separately, but which together are worth more of 16%. Another important member of the Leone is the Benetton group with 4.8% and now Unicredit has been added.
Unicredit “remains fully focused on the execution on the offer of exchange in progress on Banco BPM”. On November 25, the group led by Andrea Orcel launched a public exchange offer on the institute of Piazza Meda for a total value of 10.1 billion euros, just as the counter was busy creating what was considered a third pole Italian bank after Intesa and Unicredit. The CEO Castagna had, in fact, purchased a 5% share of MPS and shortly before he had launched an Opa on Soul, in turn the shareholder of the Monte dei Paschi. The latter from prey became predatory again after launching the OPS on Mediobanca.
Then there is the dossier Commerzbankan investment in which all options are open and, in view of the German elections, the eyes are focused on what the next government will say. Commerz, meanwhile, has strengthened defenses by launching a purchase of proper shares and doubled the dividend, to prevent shareholders from selling other quotas.